Custody Tax Product Manager

Job Purpose/Overview:

Securities Services in Europe is made up of four clusters. Central Europe, Northern Europe, Southern Europe and the Nordics. We are looking for a Product Manager who will be based in Frankfurt and will be part of the German custody team, but is also part of a larger team, the North Europe cluster.  

Overall objective for the Product Manager is to ensure Citi’s product complies with the highest standards, to confidently and convincingly communicate and explain Citi’s service offering and the intricacies of the market to clients. Work with our clients, internal and external business partners where we offer custody. Main focus of area will be Tax services, ensure best service, capture regulatory driven changes and Citi product developments are captured and embedded in the service working with Tax global product.

This Role is a “Controlled Function” Role as defined by the Central Bank of Ireland Reform Act 2010 and Principal Regulations 2011, and amending Regulations 2014, 2015.

Key Responsibilities:

• Leverage local knowledge of clients and infrastructures to optimize the outcome for Citi and for its clients. An ideal candidate has a strong understanding of the requirements of large institutional custody clients including Banks, Brokers, Global Custodians. Asset Managers, Asset Owners  and other intermediaries. As a member of the German Custody team you will be responsible for the Tax related items in Germany, from existing service to further development of the Tax service offered. Knowledge of the local German Tax changes driven by local and EU rules and regulations. Asses impacts to Citi and its clients.
• Support new business growth and provide local support for opportunities (such as competitor intelligence, RFIs, RFPs, due diligence activities etc.), as well as high standard responses for AFME and Thomas Murray questionnaires.
• Support sales opportunities by management of client implementations and client onboardings.
• Put client needs at the forefront of what we do to provide the best-in-class service, understanding our clients’ needs and expectations for both Intermediaries as well as Investor clients. Acting as the escalation point for client related issues.
• Work with the operations team to eliminate root causes of services issues and client inquiries, working with regional management on product improvements and ensuring servicing and capacity problems are addressed.
• Introduce new products and/or improve product functions and features to meet client needs.
• Comply with risk, and compliance policies on a local, regional, and global level with timely and effective escalation and ensure successful audits both internally and externally.
• Represent Citi in the market and attend market meetings, with the aim of influencing the alignment of national legislation and the adoption of agreed regional/global market standards to foster harmonisation, through strong leadership in the local Industry associations and industry working groups which includes engaging with local digital and new technology initiatives. Maintain close relationships with the market regulators and the market infrastructures.

Experience, skills and capabilities

• Ability to assume local ownership of the German Tax custody product. Issues and scenarios will vary and the ability to react quickly to address, adjust and remediate is imperative.
• Relevant experience in local Tax services, securities clearing and settlement and extensive knowledge in capital markets, market infrastructures, T2S platform, as well as functional experience in marketing and product development.
• Ability to work under pressure and manage deadlines or unexpected changes in expectations or requirements. You will need to be comfortable working both in a supervised and unsupervised capacity, adjusting priorities quickly as circumstances dictate.
• Consistently demonstrate clear and concise written and verbal communication.
• Demonstrated analytical skills.
• Ability to work in a team-oriented environment.
• Ideally experience as Settlement Agent, Paying Agent, Lead Manager or other Agent roles in the context of Issuer Services.
• English and German language fluency.
• Consistently demonstrates clear and concise written and verbal communication skills.
• Bachelor’s Degree/University degree or equivalent experience.

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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

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